The domestic consumer moving market was dealt another blow ahead of the summer season in the United States as sales of previously owned homes remained flat in April.
Monthly figures from the National Association of Realtors (NAR) showed a rise of just 0.2% in April compared to March, well below the 3% increase forecast by housing analysts. Home sales remained unchanged from April 2025. With housing inventory growing by just 5.8% from March, the median price of a home sold in April increased by 0.9% to $417,700; the highest price NAR has recorded for April. As mortgage rates remain stubbornly high, one quarter of all homes sales were all cash.
“We really need to see 30% growth in inventory, but we are not seeing that,” said Lawrence Yun of the NAR. “Multiple offers, though not as intense as a few years ago, are still occurring. At the same time, days on the market are lengthening on average, implying that consumers are taking their time before making decisions.”
IAM Member Impact: Prospects for rebound in the domestic consumer moving marketplace for the remainder of the year will largely depend upon where the current elevated mortgage rate goes.
Source: CNBC